The European Bank for Reconstruction and Development (EBRD) is providing a loan of US$150 million (€128 million) to Türkiye’s leading electricity distribution and retail company, Enerjisa Enerji, to support the reconstruction of electricity infrastructure in the earthquake-hit Toroslar region and to finance the development of new solar power plants.
The Toroslar region, which represents about one-third of Enerjisa Enerji’s operations, was among the areas most severely affected by the devastating earthquakes of February 2023, which claimed more than 55,000 lives and caused widespread damage to infrastructure. The earthquakes left the electricity distribution network in need of significant investment to ensure reliable supply and long-term resilience.
Following the disaster, the EBRD announced a comprehensive €1.5 billion response package to aid Türkiye’s recovery. This package included credit lines for affected households and businesses, support for small and medium-sized enterprises, investment in critical infrastructure, and partnerships with the private sector. The new loan to Enerjisa Enerji forms part of this broader initiative, focusing specifically on rebuilding and modernising the Toroslar region’s power network while advancing Türkiye’s transition to renewable energy.
Under the agreement, Enerjisa Enerji will use the funds to restore and strengthen the electricity grid, helping to reduce distribution losses and improve reliability. In addition, the company will develop solar power plants to provide sustainable energy solutions for corporate clients, contributing to emissions reductions and aligning with Türkiye’s green transition agenda.
The project also marks the launch of the EBRD’s Board Director Nomination Toolkit for Companies in Türkiye, which promotes gender diversity and greater transparency in corporate governance. Enerjisa Enerji will collaborate with the EBRD to promote the toolkit across the energy sector, setting an example by encouraging more inclusive and sustainable corporate practices.
Matteo Patrone, EBRD Vice President for Banking, underlined the importance of long-term partnerships for reconstruction, saying: “I have seen first hand that reconstruction in the Toroslar region is not a short-term task. It requires long-term commitment, clear strategic direction and the kind of trusted partnership that we have with Enerjisa Enerji. Reliable, sustainable power is fundamental to both human well-being and economic recovery.”
Philipp Ulbrich, CFO of Enerjisa Enerji, emphasised the strength of the company’s financial standing, noting: “This long-term financing worth USD 150 million equivalent in Turkish lira is showing that Enerjisa Enerji is able to finance its profitable growth also within a challenging environment. Based on our strong balance sheet, our robust cash flow generating businesses, and our disciplined cost and interest management, Enerjisa Enerji continues to secure the long-term confidence of international financial institutions. Support from a globally respected institution like EBRD is not only a testament to our credibility but also reflects investor interest in the energy transition.”
The EBRD has been one of Türkiye’s most significant institutional investors since 2009, committing more than €22 billion across 495 projects and trade finance initiatives, with the majority directed toward private-sector development. The new partnership with Enerjisa Enerji reflects its dual focus on reconstruction and accelerating the shift to sustainable energy solutions.
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